v3.26.1
DEBT
 9 Months Ended
May 31, 2026
Debt Disclosure [Abstract]  
DEBT DEBT
Short-term borrowings consist of unsecured lines of credit and short-term overdraft borrowings. The following table summarizes the balances of total facilities, facilities used and facilities available (in thousands):
Facilities Used
Total Amount
of Facilities
Short-term
Borrowings
Letters of
Credit
Facilities
Available
Weighted average
interest rate
May 31, 2026 - Committed$75,000 $— $— $75,000 — %
May 31, 2026 - Uncommitted96,000 3,445 — 92,555 3.3 
May 31, 2026 - Total$171,000 $3,445 $— $167,555 3.3 %
August 31, 2025 - Committed$75,000 $— $— $75,000 — %
August 31, 2025 - Uncommitted96,000 12,286 — 83,714 9.5 
August 31, 2025 - Total$171,000 $12,286 $— $158,714 9.5 %
As of May 31, 2026 and August 31, 2025, the Company was in compliance with all covenants or amended covenants for each of its short-term facility agreements. These facilities generally expire annually or bi-annually and are normally renewed. One of these facilities is a committed credit agreement with one bank for $75.0 million. In exchange for the bank’s commitment to fund any drawdowns the Company requests, the Company pays an annual commitment fee of 0.25%, payable quarterly, on any unused portion of this facility. Additionally, the Company has uncommitted facilities in most of the countries where it operates, with drawdown requests subject to approval by the individual banks each time a drawdown is requested.
The following table provides the changes in long-term debt for the nine months ended May 31, 2026:
(Amounts in thousands)
Current portion of long-term debt
Long-term debt (net of current portion)
Total
Balances as of August 31, 2025$38,675 $147,922 $186,597 
(1)
Proceeds from long-term debt received during the period:
Trinidad subsidiary6,347 14,490 20,837 
Total proceeds from long-term debt received during the period6,347 14,490 20,837 
Repayments of long-term debt:(5,470)(22,397)(27,867)
Reclassifications of long-term debt due in the next 12 months25,776 (25,776)— 
Translation adjustments on foreign currency debt of subsidiaries whose functional currency is not the U.S. dollar (2)
7 126 133 
Balances as of May 31, 2026$65,335 $114,365 $179,700 
(3)
(1)The carrying amount of non-cash assets assigned as collateral for these loans was $185.6 million. The carrying amount of cash assets assigned as collateral for these loans was $26.5 million.
(2)These foreign currency translation adjustments are recorded within other comprehensive income.
(3)The carrying amount of non-cash assets assigned as collateral for these loans was $168.8 million. The carrying amount of cash assets assigned as collateral for these loans was $34.5 million.
As of May 31, 2026 and August 31, 2025, the Company had approximately $66.2 million and $78.1 million, respectively, of long-term loans held in the U.S. entity and in several foreign subsidiaries, which require these entities to comply with certain annual or quarterly financial covenants, which include debt service and leverage ratios. The Company was in compliance with all covenants or amended covenants for both periods.
Annual maturities of long-term debt are as follows (in thousands):
Twelve Months Ended May 31,Amount
2027$65,335 
202835,865 
202925,775 
203011,935 
20313,065 
Thereafter37,725 
Total$179,700